Phreesia Q3 2021 Earnings Report
Key Takeaways
Phreesia reported revenue of $38.5 million for the fiscal third quarter ended October 31, 2020, representing a 17% increase compared to the same period in the prior year. The average number of provider clients increased by 10% to 1,737, and the average revenue per provider client increased by 5% to $17,490. Adjusted EBITDA was positive $1.2 million. Cash and cash equivalents totaled $254.1 million.
Revenue was $38.5 million, up 17% year-over-year.
Average provider clients were 1,737, a 10% increase year-over-year.
Average revenue per provider client was $17,490, up 5% year-over-year.
Adjusted EBITDA was positive $1.2 million.
Phreesia
Phreesia
Phreesia Revenue by Segment
Forward Guidance
For the full fiscal year 2021, ending January 31, 2021, the Company expects to report revenue of $146 to $147 million. For the full fiscal year 2022, ending January 31, 2022, the Company expects revenue to grow between 20 and 25 percent over fiscal year 2021.
Positive Outlook
- Revenue of $146 to $147 million expected for fiscal year 2021.
- Revenue growth of 20 to 25 percent expected for fiscal year 2022 over fiscal year 2021.
Challenges Ahead
- Uncertainty regarding the impact of the COVID-19 pandemic on business operations, financial performance, and results of operations.
- Potential impact from surges of COVID-19 cases and additional restrictions on patient visits.
- Disruptions to provider operations may impact subscription and related services revenue.
- Decline in non-essential and elective patient visits may impact revenue from payment processing tools.
- Decline in patient visits may impact revenue earned through patient engagement in life sciences.
Revenue & Expenses
Visualization of income flow from segment revenue to net income